Legacy Wealth Management LLC MS lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 64.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,240 shares of the company's stock after selling 4,120 shares during the quarter. Legacy Wealth Management LLC MS's holdings in Johnson & Johnson were worth $371,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Johnson & Johnson by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock valued at $33,666,460,000 after purchasing an additional 1,772,706 shares in the last quarter. Geode Capital Management LLC boosted its stake in Johnson & Johnson by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock valued at $8,321,881,000 after buying an additional 1,561,036 shares in the last quarter. Northern Trust Corp grew its holdings in Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares during the period. Norges Bank bought a new stake in Johnson & Johnson in the fourth quarter worth about $4,390,037,000. Finally, Wellington Management Group LLP lifted its holdings in Johnson & Johnson by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after acquiring an additional 431,205 shares during the last quarter. Institutional investors own 69.55% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on JNJ shares. Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Bank of America cut their price objective on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Royal Bank of Canada restated an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Wednesday, April 16th. Finally, Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $170.88.
Check Out Our Latest Analysis on JNJ
Johnson & Johnson Stock Up 0.9%
Shares of JNJ traded up $1.41 during trading hours on Friday, reaching $154.99. The company's stock had a trading volume of 15,529,047 shares, compared to its average volume of 7,948,740. The company has a 50 day moving average of $154.31 and a two-hundred day moving average of $153.66. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The firm has a market cap of $372.92 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. As a group, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.
Johnson & Johnson Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.36%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson's payout ratio is currently 57.84%.
Johnson & Johnson Company Profile
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Free Report)
Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.
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